U.S. Stocks Meander as European Debt Crisis Festers

Even in bad stock market years, families may still want to contribute to 529 plans.

Even in bad stock market years, families may still want to contribute to 529 plans.

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The Greek election "should be seen as a significant net positive for markets, but markets don't always react in a rational manner," said David Kelly, chief global strategist for JPMorgan Funds.

The ISE Homebuilders index rose 34 cents, or 3.5 percent, to $9.98. Lennar, PulteGroup, D.R. Horton, Toll Brothers and Hovnanian Enterprises all rose strongly.

Giant military contractor SAIC fell 38 cents, or 3.1 percent, to $11.86. The Defense Department said Friday that SAIC had lost its biggest contract to Lockheed Martin, a $4.6 billion deal to run the department's global network.

Energy prices, which are sensitive to investors' expectations of future economic growth, fell. Benchmark crude for July delivery slid 76 cents to $83.27 per barrel in electronic trading on the New York Mercantile Exchange.

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Daniel Wagner can be reached at www.twitter.com/wagnerreports.

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